john johnson, i was confronted in my hometown by my cfo who said, listen, we've got to go out to the bond market again in this very difficult time, and what happens to us is we end up in a situation where we have to raise people's property taxes because congress twiddles and diddles and plays hostage politics. what is your experience with respect to the impact that this will have on local municipalities, our cities and our communities? >> well, congressman, the impact is going to be bad, and it could be dramatically bad depending on what happens in three months. i don't agree with mr. gingrich on many fiscal issues, but i think on this one he's right. take the debt ceiling off the table permanently. investors around the world are watching this hearing. they're looking at your words, they're trying to understand what does prioritization mean, how does this not involve default? the degree of uncertainty that is being multiplied by this conversation is extraordinary. the impact on municipalities is going to be tough. they will face higher borrowing costs to extent that risk premiums ris